Norway helping plug Europe oil gap as Russian barrels head east
OSLO (Reuters) - As Europe searches the world for oil to replace Russian barrels, one oilfield closer to home is helping plug the gap.
Norway's Equinor is sending crude from the giant Johan Sverdrup field in the North Sea to the European market instead of Asia, where it exported about 100 million barrels last year.
At the same time, Russia is finding demand for the crude Europe is pulling back from in Asia, with China and India boosting their intake attracted by deep discounts.
In Europe Norwegian crude has become almost a direct replacement for Russia's similar Urals grade for refiners in Germany, Poland, Lithuania, Sweden and Finland as well as in Turkey, according to Equinor.
https://www.msn.com/en-us/money/markets/norway-helping-plug-europe-oil-gap-as-russian-barrels-head-east/ar-AAYXqbF
